Preference Action Initiated in LTC Holdings, Inc.
April 26, 2016, Delaware – Last week, Alfred T. Giuliano, Chapter 7 Trustee for the jointly administered estates of Debtors LTC Holdings, Inc. et al, initiated about 53 adversary proceedings in the U.S. Bankruptcy Court for the District of Delaware to avoid and recover transfers pursuant to 11 U.S.C. §§ 547 and 550, and disallowance of claims pursuant to 11 U.S.C. §§ 502(d) and 502(j). LTC Corp. Government Services Inc., doing business as Lakeshore TolTest, along with LTC Holdings and several other Lakeshore entities had filed for bankruptcy two years ago on May 2, 2014
The Debtors were general construction contractors which, prior to the petition date, entered into numerous contracts and task orders with various agencies of the United States, municipal government agencies, commercial clients, oil and gas clients, and the United States Department of Defense, to provide certain goods and services including, construction services, environmental services and energy services.
The largest case in the group is filed against RK Mechanical, Inc. for claim amount of $1,461,865.46. The Debtors’ bankruptcy cases are filed in the U.S. Bankruptcy Court for the District of Delaware, case no. 14-11111. Fox Rothschild LLP is representing the Debtors and Honorable Judge Christopher S. Sontchi is overseeing the Debtors’ bankruptcy cases
Defendant Fails to Rebut the Presumption of Insolvency or Demonstrate that a Genuine Issue of Material Fact Exists as to the Debtor’s Solvency At the Time of the Transfer
March 17, 2017, New York Geltzer v. Fleck (In re ContinuityX, Inc.),Nos. 13-10458 (MKV), 15-01015…Read More
Federal and State Tax Liens Do Not Attach to Fraudulent Conveyance Actions
Richardson v. Green (In re THR & Assocs.), Nos. 12-72022, 14-07008, 2016 Bankr. LEXIS 2121…Read More
BAP Affirms the Ohio Court Ruling in Avoiding the Transfer as Preference Because Appellant Did not Have Valid Perfected Lien Over the Vehicles
Dymarkowski v. Savage (In re Hadley), No. 16-8010, 2016 Bankr. LEXIS 4445 (U.S. B.A.P. 6th…Read More
Factual Issues Precluded Judgment in Favor of the Defendant
In re Empire Land, Nos. 6:08-bk-14592-MH, 6:10-ap-01329-MH, 2016 Bankr. LEXIS 1087 (U.S. Bankr. C.D. Cal….Read More
Preference Actions Filed in New Jersey in the Kid Brands Inc.’s Bankruptcy
New Jersey, June 16, 2016 – On June 16, 2016, the Official Committee of Unsecured…Read More